Where Did All The Hope Go?

Following last night's expectations-filled State of the Union speech, we know that housing is rebounding and our stock market is rising but while these are pointed to as evidence that we are on the right track, it appears, from these three charts, that expectations for hiring, capital expenditure, and retail spending is bad and getting worse. Of course, the divergence between our current market's reality and an uncertain future is nothing new - but the spread is starting to become untenable as even with stocks at five-year highs, confidence remains weak. Simply put, the people know reality and only the talking-heads choose to ignore it.

Hiring Expectations are fading fast...

Capital Expenditure plans have rolled over and real spending is following...

and just as CEO expectations for retail sales rolled over - they were right - and retail sales growth is slowing rapidly...

it seems the only place where 'hope' is priced is the nominal price of the S&P 500...